Don’t Take Financial Advice From Broke People

By: Mickey Marley

Originally Published in: Game Ready - 52 Takeaways for Winning

Throughout my thirty-seven years of coaching football, it always amazed me how much advice I got, whether I wanted it or not. Then again, I know that's just what comes with the territory. Isn't it amazing how other people think they know more about your job than you. To be quite honest, ninety-nine percent of the advice I got 'went in one ear and right out the other,' as the saying goes. Now, was that because I was hard-headed and thought I knew everything? Some would say, 'yes.' But the answer is no, definitely not.

Basically, it's just like this. Those advice givers were clueless about what they were talking about. However, I made it a point to always listen to those who I believed did actually know what they were talking about. In fact, I often sought out others in my field, if for no other reason but to bounce things off them or to exchange ideas pertinent to our situations. Now, when needed, that practice included giving and taking advice.

Sharing ideas among colleagues in your chosen profession can be very powerful! Seeking the counsel of wise people is smart. Listening and applying the advice of wise people is smart. Listening to and applying the advice of people who only think they know what's best is dumb. You see, many think they know, but only a few really do.

Remember, there is a difference between hearing someone and listening to someone. You can't help but hear unless you have a hearing problem. But when you hear advice over and over again that is both unsolicited and not good, eventually the words become clanging symbols to your ears, making noise that clutters your mind. And, trust me on this, you will train yourself to tune out that noise.

You can and should listen to what you really want to know. You will tune in, not out, to soak up as much good information as possible. Over the years, I have trained myself when to listen and when not to listen. The thing is, it's very liberating!

I had a fella give me some great advice a long time ago, and I chose to listen. The great advice was 'don't take financial advice from broke people' Now, that advice was direct, simple, and made perfect common sense to me. You know what? I am sure glad I chose not to just hear his advice, but also to listen to his advice.

It's really pretty simple. You will receive advice from a lot of folks who think they know your business better than you. I guarantee you will hear it all, but it's up to you to whom you will listen. My advice is don't take financial advice from broke people. My friends, this advice I'm sharing covers a whole lot more ground than just finances. But I'll bet by now you have figured that out!